Walmart buys former Macy’s space in Downtown Honolulu

Walmart Stores Inc. said Friday that it has purchased the 80,000-square-foot former Macy’s department store and parking garage in Downtown Honolulu and plans to open a Walmart store there next year.

The retailer, which bought the building from Lexington Corporate Properties Trust (NYSE: LXP) for an undisclosed price, plans to hire 150 full- and part-time workers to staff the new store.

“We’re pleased to continue the retailing tradition at this prime business location in Honolulu’s downtown urban core,” Rey Armijo, Hawaii market manager for Walmart, said in a statement. “We also look forward to serving the downtown community’s businesses, residents and tourists and helping save them money so they can live better.”

Walmart (NYSE: WMT) plans to begin remodeling the two-story space within the next couple of months with a target of opening in 2014. The retailer said the renovation will add energy-efficient features to the existing building as well as new escalators, elevators and cart movers to move between the two levels.

Walmart plans to improve the surface and lighting in the parking garage next to the building, which will remain open during construction.

Macy’s (NYSE: M) closed its store in February. The store will be Walmart’s 10th store in Hawaii and second in urban Honolulu.